US shutdown and weak jobs data drive record $6B crypto inflows
A US government shutdown and the weak jobs report have pushed digital asset investment products to their strongest weekly inflows on record.
According to the latest CoinShares report, crypto-related investment products attracted $5.95 billion in inflows last week, pushing total assets under management (AUM) to an all-time peak of $245 billion.
The rally did not emerge from retail excitement or online speculation. Instead, it stemmed from macroeconomic unease following the US government shutdown and disappointing employment data.
Investors appeared to interpret both as warning signs about the country’s fiscal resilience and the Federal Reserve’s policy direction.
James Butterfill, head of research at CoinShares, explained that the…
